> "it is very dangerous to be the Warren Buffet type of value investor." ... "most people need to rely on the money in their stock holdings" If you need to rel

> "it is very dangerous to be the Warren Buffet type of value investor." ... "most people need to rely on the money in their stock holdings" If you need to rely on the money from the sale of your stock holdings, you're not a Warren Buffet type of value investor. If you're looking for income from your holdings (dividends and such), the volatility of Wall Street's stock pricing algorithms is not an issue. For those who are nearing retirement and counting on the sale of stock holdings, make sure you have an appropriate stock-bond-short term reserve mix in your portfolio so that you can ride out market swings. Moving out of the market altogether is unnecessary. If you do move out of the market in desperation (like people did in March of last year, selling for whatever they could get), you're providing us value investors the "irrational bargains" I mentioned in my reply to davidw.